EURUSD Bears Resurgent as Price Set to Break Below the 1.08030 Crucial Level

EURUSD Bears Continue to Set the Pace Following Pullback

EURUSD bears are resurgent as the price is set to break below the 1.08030 crucial level. The EURUSD pair has experienced a sharp reversal in fortunes, with bears reasserting dominance after a brief respite. Buyers had mounted a spirited attempt to reclaim the pivotal 1.08720 level, but the new trading week has ushered in a decidedly bearish narrative.

EURUSD Key Levels

Resistance Levels: 1.09500, 1.08720
Support Levels: 1.06720, 1.06000

Sellers have aggressively driven the price down to the significant 1.08030 support level, signaling a potential shift in market momentum. The spotlight now turns to the 1.07340 price zone, which is emerging as a critical test of the pair’s downside potential. A decisive break below this level could open the floodgates for further selling pressure as bears target more substantial losses.

The Moving Average Crossing is on the cusp of generating a sell signal, which, if confirmed, would reinforce the downward trajectory. Moreover, the Parabolic SAR is pointing lower, suggesting that the overall market trend is tilting in favor of sellers.

As the market enters a new month, the potential for sustained bearish pressure is growing. Traders should exercise caution and consider hedging their positions as the EURUSD pair navigates this period of heightened volatility.

Market Expectation

Sellers remain determined to pull the market lower. The Moving Average Crossing and the Parabolic SAR look inclined as sellers keep calling the shots.

A breach below the 1.0800 key level will give the sellers more confidence to keep sailing. Forex signals indicate that market traders should anticipate more sell breakthroughs in the market.

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